FTSE 250 movers: WH Smith stages small rally after Thursday drubbing

(Sharecast News) - FTSE 250 (MCX) 21,901.89 0.39%

WH Smith clawed back some losses after Thursday's drubbing when the retailer cut its profit outlook, having uncovered an accounting overstatement of around £30m for North America trading profit.

For the year to the end of August, the group now expects headline trading profit from the North America division to be about £25m, down from previous market expectations of approximately £55m.

As a result, full-year headline profit before tax and non-underlying items will be in the region of £110m, it said.

The company, which has instructed Deloitte to undertake an independent and comprehensive review, said the overstatement is mainly due to "the accelerated recognition of supplier income" in the North America division.

"The group will provide a further update at its preliminary results announcement," it said.

At one point the shares were down 40% at 662p.



FTSE 250 - Risers

WH Smith (SMWH) 693.00p 8.28% Helios Towers (HTWS) 132.40p 4.09% Morgan Advanced Materials (MGAM) 213.50p 3.14% Ibstock (IBST) 142.40p 3.04% SSP Group (SSPG) 161.70p 2.73% Future (FUTR) 768.00p 2.61% Dr. Martens (DOCS) 90.20p 2.56% Hays (HAS) 63.75p 2.08% Coats Group (COA) 76.80p 1.99% Aston Martin Lagonda Global Holdings (AML) 77.65p 1.90%

FTSE 250 - Fallers

VinaCapital Vietnam Opportunity Fund Ltd. (VOF) 484.00p -1.63% AO World (AO.) 90.00p -1.53% Bakkavor Group (BAKK) 236.50p -1.46% Foresight Environmental Infrastructure Limited (FGEN) 78.70p -1.38% Harworth Group (HWG) 173.50p -1.14% Genus (GNS) 2,685.00p -1.10% Trustpilot Group (TRST) 211.20p -1.03% Me Group International (MEGP) 203.00p -0.98% Vietnam Enterprise Investments (DI) (VEIL) 735.00p -0.94% BlackRock World Mining Trust (BRWM) 555.00p -0.89%